Which of the following was illustrated by the majority voting decisions witnessed during the Great Depression? (a) If the U.S. wants to get the most from its resources, the pricing of goods and allocation of investment should be decided by majority voting. (b) In a representative democracy, majority voting will assure that approved projects are […]
The nature of employer liability changed in the 19th century through judicial instrumentalism and had what effect? (a) Reducing the risks and the costs of business, making business enterprise more daring and profitable than it would have been otherwise. (b) Increasing the risks and the costs of business, making business enterprise more daring and profitable […]
A review of U.S. history provides evidence that (a) class mobility is restricted. (b) race and gender barriers simply cannot be dismantled. (c) the wealthy and idle rich class has deep and permanent roots in the U.S. (d) there are no social barriers that cannot be overcome in the U.S. ANSWER (d)
The exploitation of what resource supplied more than half of the increase in mechanical energy in 1860–1910? (a) Petroleum (b) Water power (c) Anthracite coal (d) Bituminous coal ANSWER (d)
Cities included all of the following economies of scale except (a) Transportation (b) Sanitation (c) Crime (d) Education ANSWER (c)
A member of the Board of Governors of the Federal Reserve is appointed by a. Congress for 12 years. b. the President, with the advice and consent of the Senate, for a 14-year term. c. the President, for life. d. members of the House of Representatives for a 10-year term. ANSWER B
Which of the following cases was most important for ensuring the United States an internal common market? (a) Charles River Bridge v. Warren Bridge (1837) (b) McCulloch v. Maryland (1819) (c) Gibbons v. Ogden (1824) (d) Dartmouth College v. Woodward (1819) ANSWER (c)
The New Deal reduced (a) government involvement in private affairs. (b) individual liberty. (c) taxes. (d) rent-seeking. ANSWER (b)
In the Keynesian model, a Federal Reserve sale of government securities in the open market will a. raise the level of income and lower the interest rate. b. raise the level of income and raise the interest rate. c. lower the level of income and the interest rate. d. lower the level of income and […]
Which of the following accurately describes condemnation by right of eminent domain? (a) It involves the redistribution of property first owned by the government to private businesses. (b) It was never exercised for such private purposes as acquiring land for canal or railroad construction during the antebellum period. (c) The benefits can be diverse and […]
